Beijing mulls foreign RMB bonds

China may allow foreign governments to issue yuan-dominated bonds, said two top government officials. In separate comments, Finance Minister Xie Xuren and China Securities Regulatory Commission head Shang Fulin encouraged expanding the country's bond program to keep instututions from having to buy the yuan with dollars, easing pressure on the yuan, Reuters reported. Changes in China's bond program will also allow more capital-raising options for companies and governments hit hard by the US subprime crisis. Currently, China only allows foreign yuan-denominated bonds sold by international development organizations – so-called "panda bonds." Shang also expressed hope that foreign companies would come to list on mainland stock markets.